Property and Equipment

9 Months Ended

Oct. 31, 2012

Property and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 8 - PROPERTY AND EQUIPMENT

Property and equipment at October 31, 2012 and January 31, 2012 consisted of the following:

	October 31, 2012		January 31, 2012
Land	$	360,000	$	—
Building and leasehold improvements		2,090,000		208,000
Machinery and equipment		3,138,000		2,700,000
Trucks and other vehicles		1,705,000		1,817,000
Construction project costs (variable interest entities)		4,728,000		1,469,000
		12,021,000		6,194,000
Less – accumulated depreciation		3,751,000		3,433,000
Property and equipment, net	$	8,270,000	$	2,761,000

In June 2012, GPS purchased an office building and the underlying land for $1,955,000 cash. The building is large enough to combine the staff of GPS into one facility, and the purchase eliminated the need for leased office space in Connecticut.

Depreciation expense amounts related to the property and equipment of continuing operations were $136,000 and $112,000 for the three months ended October 31, 2012 and 2011, respectively, and were $385,000 and $344,000 for the nine months ended October 31, 2012 and 2011, respectively. The costs of maintenance and repairs for continuing operations totaled $92,000 and $89,000 for the three months ended October 31, 2012 and 2011, respectively, and $263,000 and $208,000 for the nine months ended October 31, 2012 and 2011, respectively. The Company also occupies certain facilities and uses construction equipment under non-cancelable operating leases and other rental agreements. The amounts of rent included in the selling, general and administrative expenses of continuing operations were $101,000 and $109,000 for the three months ended October 31, 2012 and 2011, respectively, and were $319,000 and $332,000 for the nine months ended October 31, 2012 and 2011, respectively. The amounts of rent incurred on construction projects and included in the costs of revenues of continuing operations were $1,465,000 and $1,094,000 for the three months ended October 31, 2012 and 2011, respectively, and were $5,719,000 and $1,904,000 for the nine months ended October 31, 2012 and 2011, respectively.